Secondary Recommendation

Slimma - Frank Usher brand starting to motor

June 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Sometimes it's possible for just one deal to transform the perception of a company previously written off as a dullard, with limited growth prospects. In March last year, Slimma, a small (market cap: Â£7.4m) supplier of trousers and skirts for the more mature and larger lady, paid Â£0.57m to buy the FrankUsher Group from the receivers. Usher is a famousold name, which designs and wholesales ready-to-wear occasion wear andaccessories to department stores and independent shops. Based onthe net profit of Â£0.38m that Usher made in the year to May 2000,Slimma incredibly bought it on a PE of less than 2. But it gets even better. Usher's warehousing and distribution ...

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